Abits Group Inc, a bitcoin miner listed on the Nasdaq exchange, has been struggling to break above the $1 mark. On Friday, the stock traded as high as $0.86, but this small gain did not alleviate concerns about the company's listing risks and thin liquidity.
The company's latest annual report, released in April, showed revenue of $9.13 million in 2025, a significant increase from $6.71 million the previous year. However, Abits also reported an after-tax loss of $2.87 million, due to high depreciation and miner write-offs.
The company's cash reserves are also a concern, with only $83,837 left at year-end, down from $1.12 million in 2024. Abits' shareholders' equity fell to $7.78 million from $10.38 million over the same period.